India's largest gold market is Mumbai's Zaveri Bazaar, which is 160 years old and supplies gold across the country. Prices may be lower here due to wholesale purchases, but there are no significant discounts at the retail level. In South India, Thrissur is called the 'Gold Capital'.
India's Largest Gold Market: Mumbai's Zaveri Bazaar is the largest gold market in India and Asia, which was established in 1864 by Tribhuvandas Zaveri. This market supplies gold and jewelry across the country. Wholesale buyers benefit from prices, while retail operates at market rates. The city of Thrissur in Kerala is known as the 'Gold Capital', where a large quantity of jewelry is manufactured and it is a major center for gold trade in South India.
Zaveri Bazaar: The Country's Largest Gold Market
Mumbai's Zaveri Bazaar is considered the largest and most famous gold market in the country. It is also called the largest gold market in all of Asia. Zaveri Bazaar is over 160 years old. It was established in 1864 by the renowned bullion trader Tribhuvandas Zaveri, after whom it got its name.
Zaveri Bazaar deals not only in jewelry but also in diamonds and other precious stones. Gold is supplied from this market to almost every corner of the country.
Is Gold Cheaper in Zaveri Bazaar?
Wholesale gold and jewelry purchases take place in Zaveri Bazaar. Prices can be relatively lower due to bulk purchases. However, for the average retail customer, prices are based on market rates. Both the quality and design of jewelry are considered superior here. Therefore, investors and traders come to Zaveri Bazaar for large-scale purchases.
Specialties of Zaveri Bazaar
Zaveri Bazaar is not just about gold trading; it is also involved in the manufacturing and sale of high-quality jewelry. Its specialty lies in its historically established nature and its long-standing, organized trading system.
The jewelry designs here are unique, and customers have a wide range of options. Deals in this market are often large-scale, benefiting wholesale traders and major buyers.
Thrissur, Kerala: The Gold Capital of India
The city of Thrissur in Kerala is known as the 'Gold Capital' of India. This city is a significant hub for gold trading and jewelry manufacturing. Thrissur has numerous large factories and artisans who produce vast quantities of gold jewelry.
Thrissur is a prominent center for gold trade in South India. The finished jewelry from here is supplied throughout South India and to many international markets.
Other Major Gold Markets in India
Besides Mumbai and Thrissur, other major gold markets in India include Jalgaon in Maharashtra, Ratlam in Madhya Pradesh, and Sarraf Bazaar in Delhi. These markets are also famous for wholesale and retail gold trading. Jewelry trade is very active in Jalgaon, and bullion trading is prominent in Ratlam.
The demand for gold in India has always been high. It is not just an investment vehicle but also essential for weddings, festivals, and religious occasions. Millions of kilograms of gold are imported into India every year, used to create jewelry, ornaments, and electronic devices.
Gold prices depend on global markets and domestic market rates. Some price advantage can be obtained through large purchases in the wholesale market.
